MortgageBrokers.com Holdings, Inc.'s 2008 2nd Quarter Profits Increase 615% Over Same Quarter 2007



    
    MortgageBrokers.com produces its best ever quarterly performance with
    record revenue of $4.03 million, continues building profitability.
    

    TORONTO, Aug. 15 /CNW/ - MortgageBrokers.com Holdings, Inc. (OTCBB:
MBKR), one of North America's fastest growing mortgage broker brands and
mortgage consolidation company, announced its record financial results for the
second quarter ended June 30th, 2008. For the 2008 second quarter,
Mortgagebrokers.com had revenue of $4.03 million, an increase of 72% compared
to $2.34 million in the 2007 second quarter.
    "The increase in our growth and profitability is the result of the
continuous addition of what we believe to be the finest and most professional
mortgage brokers in the business and the focused commitment to the execution
of our business plan," said Alex Haditaghi, CEO and Chairman of
MortgageBrokers.com Holdings, Inc.
    Some of the company's financial performance highlights to-date includes:

    
    -   The Company reported second quarter net income of $216,181, an
        increase of 615% as compared to net income of $30,219 in the second
        quarter of 2007;

    -   The Company's number of registered licensed mortgage broker agents
        increased to 403 as at June 30, 2008, a 47% increase over the number
        of licensed agents as of June 30, 2007;

    -   The Company's number of retail branch offices operated by its
        mortgage broker agency network increased by 177% from that of
        June 30, 2007;

    -   For the six months ended June 30th, Mortgagebrokers.com had revenue
        of $6.43 million, an increase of 77% compared to $3.63 million in the
        six months ended June 30th 2007;

    -   The Company had net income of $376,410 for the six months ended
        June 30th 2008 as compared to a loss of $(718,881) for the six months
        ended June 30th, 2007; and

    -   Cash flows from operating activities were $428,018 for the six months
        ended June 30th, 2008 as compared to a negative cash flow from
        operating activities of $(566,645) for the six months ended
        June 30th, 2007.
    

    Haditaghi believes that Mortgagebrokers.com has the right model at the
right time: "Our consolidation business plan is very attractive, especially in
environments such as we are in today, because we can provide small and medium
size broker's access to strategic growth alliances as well as making available
a larger lender base. This allows the broker to offer more competitive and
suitable products to their customers, increase their brand power and utilize
an infrastructure which will allow them to reduce their expenses by providing
centralized back office services. As we have proven, our business model
continues to gain traction and we maintain our focus and dedication to
accomplish our overall objective of being North America's largest and most
respected mortgage brokerage company."
    The Mortagebrokers.com business model is unique in that they are
operating in a Canadian economy and a mortgage/housing industry that has
mostly avoided the sub-prime woes of the US market. In addition, regardless of
the market that Mortagebrokers.com operates in, the Company strictly acts only
as a professional broker agent between buyer and seller for residential and
commercial mortgage transactions, thus eliminating any type of credit,
underwriting or inventory risk on the loans they originate. The risk analysis
and thus the burden, if any, are borne by the lending institutions.

    About Mortgagebrokers.com

    Mortagebrokers.com is dedicated to re-branding over 40,000 small and
medium mortgage brokerage (SME) firms in North America while providing these
entities scalability through a centralized shared services platform.
MortgageBrokers.com is designed to facilitate continued ownership for these
SME brokers while they work under the umbrella of one globally recognized
brand. The Company provides centralized services in the areas of payroll and
accounting, compliance, marketing, technology, HR and lead generation to
afford its brokers improved access to potential customers through strategic
alliances and partnerships. MortgageBrokers.com also provides its national
team the opportunity to leverage origination with lending institutions,
establish higher referral fees from lenders, and give its team members the
ability to earn ownership in a publicly-traded entity with the goal of an
eventual career exit strategy.

    Contact: Jody Janson 1.585.232.5440

    
    Alex Haditaghi
    CEO
    Mortgagebrokers.com
    (416) 410-4848
    or
    Jody Janson
    iStockDaily, Inc.
    585-232-5440
    jody@istockdaily.com
    





For further information:

For further information: Alex Haditaghi, CEO, Mortgagebrokers.com, (416)
410-4848; or Jody Janson, iStockDaily, Inc., (585) 232-5440,
jody@istockdaily.com

Organization Profile

MORTGAGEBROKERS.COM INC.

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MORTGAGEBROKERS.COM HOLDINGS, INC.

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